Although Brent has seen falls on the back of Goldman Sachs slicing forecast prices, one must accept that if stock markets expect economic growth, then demand for oil should follow real growth forecasts. Unless there is a slowdown of a serious nature or an oil glut (which supply excess is already factored in) prices cannot fall drastically. India and China growing should seek oil. So the fall has to be slower although Iran, Libya and USA supplies are greater than the demand. The OPEC cartel is weakening. Demand for dollar ( in which currency oil trade is invoiced ) should also see a fall...
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